Press Releases

January14,2005

The United States Treasury Department issued rules on Thursday related to a provision in HR 4520. Rep. Adam Smith (D-WA-09) has been a leader in advocating for this proposal since he introduced HR 1162, “The Invest in America Act” which was introduced in March of 2003.

“I’m pleased that the Treasury Department has issued guidelines for the reinvestment provisions contained in last year’s broader tax legislation,” said Smith. “In introducing the Democratic version of this provision, my goal was to enact a fiscally responsible, short-term tax incentive designed to stimulate the economy, encourage job growth and promote investment in domestic needs. This has been a long fight but companies today have some guidance to make business decisions that will bring funds back to the United States and help grow our economy.”

Smith introduced HR 1162 in March 2003 and garnered the support of 29 House colleagues. This legislation was a key priority of the New Democrat Coalition (NDC) and was broadly supported by the NDC membership. Smith led the Democratic effort to ensure inclusion of this proposal in the larger tax legislation.

The law approved by Congress would let companies take advantage of the lower rate if they put forward a board-approved domestic reinvestment plan to reinvest their profits in ways that enhance employment in the United States. Specifically, it allows companies a one-time opportunity to bring a total of as much as $500 billion in foreign profits into the United States and pay a tax rate of 5.25 percent, instead of the standard corporate tax rate of 35 percent.

Under the guidelines announced by the Treasury Department today, firms can use the repatriated earnings for hiring and training workers, capital investments, research and development, certain acquisitions, and advertising and marketing. The repatriated funds cannot be used for executive compensation, intercompany transactions, increased dividends, stock redemptions, portfolio investments, purchase of debt instruments or tax payments.

“I’m pleased that the Treasury Department has adopted rules that will ensure companies using the repatriation tax provision will truly be investing in America’s economy,” Smith said. “I’ll continue to monitor the law as we move forward.”

January9,2005

U.S. Representative Adam Smith (D-WA) spoke on CNN and Fox News today from Jerusalem about his thoughts on the Palestinian elections and their impact on the Middle East peace process. Smith noted that, “The Palestinian people have not had true leadership. They have had a corrupt and ineffective government that they had no faith in.” With the likely victory of Mahmoud Abbas, the Interim Chairman of the Palestinian Liberation Organization (PLO), as Prime Minister of the Palestinian people, Smith noted that “with a legitimate government where the people of Palestine have a chance to have a voice, to have a say, to have some control over their destiny, that just opens a wide range of options.”

More broadly, Smith believes that the elections bring a “great opportunity to bring democracy to the Middle East. Once the Palestinian people feel that freedom of empowerment to elect their own government, they will have a more responsive government and that could change the entire dynamic between the Palestinians and Israel.”

Smith stated that the United States needs to “enhance [its] credibility in the Arab world and other Muslim communities as well so that [the United States] can get some credibility back to be an effective partner in the Middle East.”

Smith also stated that “If Mahmoud Abbas gives the Palestinian people a better life, more opportunity, more freedom, then they can see democracy makes a concrete difference in their lives.”

Smith is the only Democrat that serves on both the House Armed Services and International Relations committees. He represents the 9th District of Washington state and is currently serving in his 5th term in Congress.

January3,2005

Rep. Adam Smith (D-WA) made the following statement on the death of Rep. Robert Matsui (D-CA):

“America has lost a great leader with the death of Rep. Bob Matsui. His story embodies so much of what is great about America: after being imprisoned in a World War 2 internment camp for Japanese-Americans, he worked hard and made his way to Congress so that he could fight for the rights of all Americans. His leadership in rectifying the wrongs of the World War 2 internment camps is but one notable accomplishment in his long career in public service, but it is such an important one that he will undoubtedly be forever remembered for it.

His commitment to the Asian-American community was unending and he was determined that every American should be treated equally. I enjoyed working with him on issues ranging from Social Security to trade to taxes. We will miss Congressman Matsui’s counsel, his strong but patient leadership and his clear vision for a strong future for all Americans.”

December22,2004

Congressman Adam Smith (D-WA) made the following statement today concerning the attack on the U.S. Army base in Mosul, Iraq:

“First and foremost, my thoughts and prayers are with the family members and friends of those service members who were killed and wounded today in the vicious and cowardly attack on the dining hall at Camp Marez, Iraq. The soldiers stationed at Fort Lewis are always at the forefront of my thoughts and on a day like today, I cannot help but be in awe of the sacrifices that they and their families make each and every day.

I express my sorrow to the families of these brave soldiers and extend my heartfelt thanks and gratitude during this trying time.”

November22,2004

ved transportation routes to newly planned development areas in the City of Tukwila.

Intercity Transit Buses (Thurston County) - $1 millionThis will allow intercity transit to purchase busses to restore service lost as a result of a state-wide elimination of the motor vehicle excise tax in 1999.

Pierce Transit Maintenance and Operations Facility - $1 millionThis earmark will be used to continue the upgrade of Pierce Transit bus facilities and assist in funding the next expansion bus purchases.

Burien, SR 509 / SR 518 Interchange/Intersection Redevelopment - $1.5 millionCreates interchange improvements and the addition of one travel lane on a portion of the corridor.

The following is a list of initiatives in and around the Ninth District that were funded under the Veterans Administration and Housing and Urban Development appropriations bill that was passed as part of a larger Omnibus bill.

City of Lakewood Sewer Line - $150,000The funds will be used for the construction of a sanitary sewer tank system and pump station to serve American Lake Gardens and Tillicum neighborhoods of the City of Lakewood.

Molten Fuel Cell Demonstration Project - $400,000The facility will demonstrate the cost-effectiveness of fuel cell technology and its applicability to other wastewater treatment facilities nationwide. This is the first fuel cell plant of this design and the first such plant to rely solely on sludge digester gas generated by a wastewater treatment facility.

West Hylebos Wetlands Boardwalk Replacement - $72,750
The boardwalk was constructed in 1991 when the West Hylebos Wetlands State Park was opened. The park is considered one of Seattle’s best urban nature walks.” The boardwalk enables 30,000 to 35,000 visitors each year enjoy one of Puget Sound’s last remaining forested bog wetlands.

White Center Community Facility, King County - $72,750
The funds will be used by the Boys and Girls Clubs of King County to fund a portion of the $2.4 million rehabilitation of the Greenbridge Community Center located at the Greenbridge HOPE VI project in White Center. The primary user of the Community Center is the Boys and Girls Club which offers recreation, youth, afterschool, and homework support programs for low income children and teens living at Greenbridge.

The following is a list of initiatives in and around the Ninth District that were funded under the Labor and Health and Human Services appropriations bill that was passed as part of a larger Omnibus bill.

Marine Science and Technology (MaST) Center, Highline Community College - $320,000The MaST center will provide opportunities for the community in the areas of environmental health, science, and technology education. The MaST’s programs will increase environmental health awareness, literacy, and promote stewardship of environmental and business related health issues. Training will include topics such as urban water quality, preserving marine dependent habitats, and minimizing ecological impacts of toxins released in the water. The facility will be used to promote science and technology education to K-12, community college students, and community members, while providing training opportunities in science and technology to K-12 teachers.

New Futures Children and Family Advocacy Program - $320,000New Futures serves King County, Washington’s poorest, most isolated children with child and family centers in three of the region’s toughest neighborhoods. The heart of their work is child and family programs. Their after-school program serves children who are at the greatest risk of failing in school. Pre-K programs offer child and family literacy and parenting skills, and youth programs provide a supportive environment where teens develop a positive support network with peers, and build relationships with adults.

Life Sciences II-III Building, University of Washington - $1.5 million
The Life Sciences II building will house the Department of Bioengineering and will include instructional research laboratories, offices for faculty, students and staff, academic advising and administration. The LS-II facility will support integrated research and education in five bioengineering thrust areas: Distributed Diagnosis and Home Healthcare; Molecular Bioengineering and Nanotechnology; Medical Imaging and Research; Computational Bioengineering; and Engineering Biomaterials.

Information Technology Center, Tacoma Community College - $450,000
The principal focus of this project is to provide the community with expanded computer resources. These computers will not only increase general student access but also expand computer literacy.

Experience Music Project - $430,000
This funding will be used to create a living archive of interviews with musicians, producers, and key players that have helped shape one of America’s most enduring legacies—American popular music. This archive will be made available for use by scholars, students, educators, journalists, and museum curators, enabling them to contribute to the preservation and enhancement of the rich tradition of music in America and beyond.

Center for Learning and Technology, Pacific Lutheran University - $950,000
Pacific Lutheran University is constructing a Center for Learning and Technology that will house its Department of Mathematics, Department of Computer Science and Computer Engineering, Business School, and the Math, Engineering and Science Achievement (MESA) Program, which has a proven track record of success in starting underrepresented minority and female public school students in grades K-12 on the path to college.

Center for Pediatric Bioethics, Children’s Hospital and Regional Medical Center in Seattle, WA - $340,000
This funding will support the expansion of research into critical areas of children’s health nationwide while promoting the highest standards of medical ethics and protections for patient’s rights in pediatric research.

The following is a list of initiatives in and around the Ninth District that were funded under the Energy and Water appropriations bill that was passed as part of a larger Omnibus bill.

Green/Duwamish Ecosystem Restoration - $1.25 million Congress authorized the Green/Duwamish Ecosystem Restoration Project for construction in the Water Resources Development Act of 2000. The majority of the identified restoration sites have been identified and the local governments have committed the funds necessary to move forward.

Puget Sound and Adjacent Waters Restoration - $500,000 Funding will allow the Corps to continue a habitat restoration program throughout the Puget Sound basin that was authorized by Congress in the Water Resources Development Act of 2000.

Seahurst Park Seawall Removal and Beach Restoration - $150,000
The existing seawall has eroded the beach and damaged the fish habitat during the past thirty years.

Puget Sound Nearshore Marine Habitat Restoration - $525,000
This is a habitat restoration project in the nearshore, estuary and marine areas of Puget Sound, a vital element of salmon recovery in the basin.